TikTok Banned, Stripe Funding Round & Job Losses at Ericsson

In this episode of Tech News Daily, sponsored by Camflare.io, we bring you the latest news from the world of technology.

In this episode, we cover three major stories that are making headlines in the tech and business world.

The first story reports that the European Commission has banned TikTok from its employees' phones temporarily over concerns of potential cyberattacks.

We discuss digital payments processor Stripe's plans to raise $4 billion in fresh capital with a significant decline in valuation from $95 billion to $55 billion.

Finally, the third story highlights Swedish telecom equipment maker, Ericsson, announcing its plan to lay off 8,500 employees globally due to slowing orders for telecom equipment makers, with North America likely to be hit the hardest.